The Real Deal New York

Posts Tagged ‘foreign investment’

  • Goh Kok Huat Time Warner Center

    From left: Goh Kok Huat and the Time Warner Center in Columbus Circle

    Singaporean investors have already poured substantial cash into the New York real estate market, and more might be on the way.

    Goh Kok Huat, president of real estate at GIC Pte, the city-state’s sovereign wealth fund, whose total holdings Morgan Stanley estimates at $343 billion, said his firm was “underinvested” in the global property market and is seeking to make major purchases. [more]

  • 235 West 75th Street on the Upper West Side (inset: Mauricio Amaro)

    235 West 75th Street on the Upper West Side (inset: Mauricio Amaro)

    Foreign buyers have long been a mainstay of New York real estate, but it seems like their purchasing habits are revolving less around pricey pieds-a-terre that are left empty for much of the year. [more]

  • EB-5The wildly popular EB-5 visa program – the vehicle that offers foreign investors a U.S. green card in exchange for an investment in the U.S. economy – is set to sunset Wednesday.

    While stakeholders believe the program will be renewed, lawmakers have proposed a series of reforms designed to increase oversight and enforcement and maximize the amount of dollars invested here. [more]

  • Daniel Fournier Richard Lesser

    From left: Ivanhoe Cambridge’s Daniel Fournier and Oxford Properties’ Richard Lesser

    Forget the Chinese and the Russians, the largest foreign investors in New York City real estate in the last decade are our neighbors to the north.

    Canadians invested $3.8 billion into the city’s property market so far this year, already nearly doubling last year’s $1.97 billion total, and surpassing the previous record of $2 billion set in 2007, according to Real Capital Analytics.

    Canadian investors have purchased $15.5 billion worth of property in the city in the last decade, more than any other foreign country. [more]

  • Sheikh Abdullah bin Mohammed bin Saud Al Thani

    Sheikh Abdullah bin Mohammed bin Saud Al Thani

    Qatar’s sovereign wealth fund plans to invest $35 billion in the U.S. over the next five years, and it’s opened a New York office to “better access new and existing investment partners.”

    The Qatar Investment Authority, which controls more than $250 billion in funds, said Monday that it plans to target various sectors of the U.S. economy, though it declined to provide details on potential investments. [more]

  • India: NYC’s next investment powerhouse?

    September 24, 2015 09:33AM
    Indian Investors

    Narendra Modi, India’s Prime Minister, is promising economic reform

    From the September issue: “My dear countrymen, the world has changed,” India’s Prime Minister Narendra Modi told a crowd of thousands last August. “Now India cannot decide its future by remaining isolated and sitting alone in a corner.”

    The remarks — made in a speech by the newly elected leader on India’s independence day roughly a year ago — echoed the widespread hope that his reformist government can overcome decades of poverty and stagnation and turn the South Asian behemoth into a global economic force to rival China. [more]

  • Stock volatility makes real estate shiver

    September 08, 2015 04:49PM
    From left: Ralph Modica, Thomas Kim and Susan de Franca

    From left: Ralph Modica, Thomas Kim and Susan de Franca

    From the September issue: Given how the 2008-2009 economic crisis rocked the New York real estate world, buyers and sellers can be forgiven for feeling jittery after last month’s stock market turmoil.

    “Where there is volatility, there is fear,” said Julie Park, a Level Group agent. “Ninety-nine percent of my clients and people I know have money tied up in the market somehow.”

    Spurred by China’s economic woes, the Dow plunged 1,000 points shortly after the markets opened Aug. 24, and despite a partial rebound, ended the day down 3.6 percent. Many of the top real estate stocks got hit hard. It was the scariest day of a week that saw broad swings in stocks, reminding many investors of 2008 and early 2009. [more]

  • renminbi skylineBetween Monday night and Tuesday morning, all of New York’s real estate got 2 percent costlier – at least for Chinese buyers.

    In a stunning move, the Chinese government devalued its currency, the renminbi, by 1.9 percent against the dollar – the greatest single-day markdown since 1994. The move appears in part designed to curb capital outflows from China, which would give New York real estate, an industry that has benefitted from these outflows like few others, something to think about.  [more]

  • waldorf-astoria

    The Waldorf-Astoria Hotel

    It seems like Monopoly had it right: it’s all about the hotels. [more]

  • From left: Sheikh Khalifa bin Zayed Al Nahyan, ruler of Abu Dhabi, 5 Madison Avenue and Qatari emir Sheikh Tamim bin Hamad Al Thani

    Middle Eastern investors are projected to spend an average of $15 billion annually on the international property market over the next few years, according to a new report. [more]

  • The top 10 countries producing EB-5 visa holders from 2012 to 2014

    The top 10 countries producing EB-5 visa holders from 2012 to 2014

    From the South Florida website: The unprecedented demand for EB-5 visas by foreign investors, as a way to gain permanent U.S. residency, could lead to new regulations that make it harder for project developers to tap capital from abroad. [more]

  • From left: Sam Chandan, John Catsimatidis, Patrick Chovanec

    From left: Sam Chandan, John Catsimatidis and Patrick Chovanec

    UPDATED, 10:34 a.m., July 7: Greek voters’ overwhelming rejection of European creditors’ austerity-laden loan package makes a Greek exit from the euro more likely than ever. But while prior crises in Europe have led investors there to seek relative safety in assets like New York City real estate, experts told The Real Deal that the effect of the latest turmoil on the property market here will be minimal. [more]

  • Gray Waldorf Sternlicht

    From left: Jonathan Gray, the Waldorf Astoria Hotel and Barry Sternlicht

    Chinese insurer Anbang’s $1.95 billion purchase of the Waldorf Astoria is only the beginning of a wave of foreign investment in New York hotels, according to real estate bigwigs Jonathan Gray and Barry Sternlicht. [more]

  • Safe rooms, now all dressed up

    May 26, 2015 10:00AM
    From left: 240 Riverside Boulevard, which includes a panic room, and a shot from the 2002 thriller "Panic Room"

    From left: 240 Riverside Boulevard, which includes a panic room, and a shot from the 2002 thriller “Panic Room”

    It might not sound like the most appealing amenity, but foreign investors are requesting them: safe rooms. [more]

  • Rendering of 55 Hudson Yards (credit: Kohn Pederson Fox)

    Rendering of 55 Hudson Yards (credit: Kohn Pederson Fox)

    A newly proposed federal law would increase the appeal of investing in U.S. real estate for foreigners by eliminating certain taxes at a time when foreign investment is already on the rise. [more]

  • Foreign investment panel at The Real Deal Broward Showcase & Forum

    Foreign investment panel at The Real Deal Broward Showcase & Forum

    From the South Florida website: South Florida is more of a “think tank” and less of a “drink tank” these days, a contributing factor to increased domestic and foreign investment to the region, according to developer David Martin, a panelist at The Real Deal’s Broward Real Estate Forum & Showcase at the Design Center of the Americas in Dania on Thursday. [more]

  • Manhattan Foreign Investment

    (Click to enlarge | Credit: NGKF Capital Markets)

    And the award for biggest foreign investor in U.S. real estate in 2015 goes to … Singapore.

    While Chinese and Canadian investors dominate in Manhattan, the East Asian city-state leads the pack nationwide. By a fair distance.  [more]

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  • From left: Dimitrios Contominas, the Time Warner Center and Vitaly Malkin

    From left: Greek media mogul Dimitrios Contominas, the Time Warner Center and Russian-Israeli oligarch Vitaly Malkin

    Seventeen nonprofits are urging the U.S. Treasury Department to require more scrutiny of foreign buyers of real estate by verifying their identities and screening them for the potential risk of money laundering. [more]

  • From left: Sam Zell and the Waldorf-Astoria in Manhattan

    From left: Sam Zell and the Waldorf-Astoria in Manhattan

    Sam Zell doesn’t just disagree with the notion that foreign investors are inflating commercial real estate prices in New York City and other U.S. markets. He thinks it’s downright B.S.

    The CommonWealth REIT board chairman and Equity Group Investments head used this year’s EisnerAmper Real Estate Private Equity Summit in Manhattan to air his thoughts on the hot topic – which has only gotten hotter following the news this week that a Chinese insurance company purchased the Waldorf-Astoria for a record-setting $1.95 billion. [more]

  • From left: New York City and London

    From left: New York City and London

    New York is the top market for real estate investment for the fourth year in a row – but London is closing the gap with Gotham as foreign investors pile in. [more]

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